Analyst Note| Nupur Balain |
Narrow-moat NICE reported strong first-quarter results that support our thesis that NICE is well poised for robust future growth, reflected by a rapidly expanding customer base, solid user metrics, and growth in CCaaS module adoption on NICE's platform. We are raising our fair value estimate to $252 from $242. Shares jumped 2% after open due to stronger-than-expected first-quarter performance and improved second-quarter and full-year outlooks. Shares are currently borderline undervalued, and we see a potential buying opportunity for investors.